Avon Execs Under Fire For Concealing Information

Law360 (October 20, 2005, 12:00 AM EDT) -- In a recently filed class action suit, Avon Products Inc. employees allege that CEO Andrea Jung encouraged them to invest in Avon stock while selling her shares in the company, netting her millions but causing the employees to lose a “significant portion” of retirement investments.

The complaint accuses Jung and several other executives of breaching fiduciary duty, engaging in actions to artificially inflate the price of Avon stock, and failing to disclose information necessary for employees to make decisions about their retirement investments.

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